THE Maharlika Investment Fund (MIF) could finance the rehabilitation of the Ninoy Aquino International Airport (NAIA), National Economic and Development Authority (NEDA) secretary Arsenio Balisacan said.
“Puwede, profitable iyan [It could. That’s profitable],” Balisacan answered when asked by members of the media if the MIF could finance the rehabilitation.
The Department of Transportation earlier said the winning bidder for the NAIA rehabilitation would have to spend some P130 billion for infrastructure in the next five years as part of the terms of reference.
Earlier, President Ferdinand “Bongbong” Marcos Jr. bared that at least 80 infrastructure projects, which can be financed through MIF, have been identified by the government.
The President said these projects would offer “high returns and significant socio-economic impact.”
Balisacan said these infrastructure projects were urban-based and would later make the MIF profitable.
Marcos signed the Maharlika Investment Fund Act of 2023 in July, with the aim of tapping state assets for investment ventures to generate additional public funds.
The law creates the Maharlika Investment Corporation (MIC), a government-owned company that will manage the MIF — a pool of funds sourced from state-run financial institutions that will be invested in high-impact projects, real estate, and financial instruments.
The MIC’s Board of Directors would be composed of the Finance Secretary, who will serve as the ex-officio chairperson; the presidents of Landbank and Development Bank of the Philippines; two regular directors; and three independent directors from the private sector. (GMA News)
